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Rogers Communications Reports Fourth Quarter 2012 Results

Customer Base Grows with 58,000 Postpaid Net Subscriber Additions in
Wireless and 7,000 Total Service Units in Cable;

Adjusted Operating Profit Grows 7% and Earnings Per Share Up 33%
Reflecting Top Line Growth and Continued Cost Efficiency Improvements;

Annualized Dividend Rate Increases 10% to $1.74 Per Share

TORONTO, Feb. 14, 2013 /CNW/ - Rogers Communications Inc., one of
Canada's leading diversified communications and media companies, today
announced its unaudited consolidated financial and operating results
for the three months ended December 31, 2012, in accordance with
International Financial Reporting Standards ("IFRS").

Financial highlights from continuing operations are as follows(1):

Three months ended December 31,

(In millions of dollars, except per share amounts)

2012

2011

% Chg

Operating revenue

$

3,261

$

3,155

3

As adjusted:

Operating profit

1,176

1,101

7

Net income

455

350

30

Earnings per share

0.88

0.66

33

Diluted earnings per share

0.88

0.66

33

Pre-tax free cash flow

296

289

2

(1)

This summary of our fourth quarter 2012 results should be read in
conjunction with our fourth quarter 2012 earnings release, our 2011
Annual MD&A, our 2011 Annual Audited Consolidated Financial Statements
and Notes thereto, and our 2012 quarterly interim financial statements,
all of which are incorporated by reference in this news release. The
financial information presented herein has been prepared on the basis
of International Financial Reporting Standards ("IFRS") for interim
financial statements and is expressed in Canadian dollars.

"We exited 2012 with accelerating growth across our asset mix and with
continued improvements in the strength of our key metrics," said Nadir
Mohamed, President and Chief Executive Officer of Rogers Communications
Inc. "It was a record quarter for smartphone sales in our Wireless
business where data revenue growth continues to accelerate. Our Cable
division executed well with strong Internet growth and industry-leading
margins, and our Media business continued to improve and grow.
Importantly, we achieved or exceeded all of our full year financial
guidance metrics and are well positioned for 2013."

Highlights of the fourth quarter of 2012 include the following:

Top Line Growth Accelerated

Consolidated revenue growth of 3% was driven by Wireless network revenue growth of 4%, Wireless equipment
revenue growth of 13%, Cable revenue growth of 2%, and Media revenue
growth of 1%, partially offset by declines at Rogers Business Solutions
compared to the same quarter last year.

Wireless data revenue grew by 21% which, combined with a continued slowing in the rate of decline of
voice ARPU, helped drive a 2.8% increase in blended ARPU. Wireless data revenue now comprises 42% of Wireless network revenue.
Wireless activated and upgraded 940,000 smartphones, of which
approximately 29% were for subscribers new to Wireless. This is the highest number of smartphone activations and upgrades in Rogers' history and resulted in subscribers with smartphones now representing 69% of
the overall postpaid subscribers. Wireless also recorded a continued reduction in postpaid churn on a year-over-year basis.

Consolidated adjusted operating profit increased by 7% with a 3% increase at Wireless, a 4% increase at Cable, a 35% increase
at RBS, and a 70% increase at Media compared to the same quarter last
year. The increase in Media adjusted operating profit was largely
driven by lower programming costs associated with the recently
concluded NHL player lockout in addition to cost efficiencies.

Consolidated margins of 36.1% were up 117 basis points, driven by strong adjusted operating profit margins of 40.2% and 49.4% at Wireless
and Cable, respectively, reflecting revenue growth combined with solid execution
against cost reduction and simplification efforts. Adjusted net income
improved 30% from the same quarter last year and adjusted diluted
earnings per share of $0.88 was up 22 cents or 33% year-over-year.

Continued to Enhance our Leading Networks to Monetize Rapid Data Growth

Expanded Canada's first wireless Long-Term Evolution ("LTE") 4G broadband network to now cover
approximately 60% of the Canadian population, and Rogers currently offers the largest selection of LTE devices of
any carrier in Canada. LTE is a next generation wireless technology
that enables unparalleled connectivity, capable of speeds that are
about four times faster than HSPA+ with peak potential download rates
of up to 150 Megabits per second ("Mbps").

Cable continued to increase the Internet speeds available to its customers, boosting the "Ultimate tier" download speed
from 75 Mbps to 150 Mbps across approximately 90% of its footprint.
Cable continues to make significant network investments to deliver the
fastest Internet speeds available to the most homes.

Subsequent to the end of the fourth quarter of 2012, on January 14,
2013, we announced a multipart strategic transaction with Shaw Communications ("Shaw") to acquire Shaw's cable system in Hamilton, Ontario and secure
an option to purchase Shaw's Advanced Wireless Services ("AWS")
spectrum holdings in 2014. We will also sell to Shaw our one-third
interest in specialty channel TVtropolis and enter into negotiations
with Shaw for the provision of certain services in Western Canada.
Rogers' net cash investment is expected to total approximately $700
million if all aspects of the transaction are approved.

Customer Experience Further Enriched

Wireless and Canadian Imperial Bank of Commerce announced the completion of the first point-of-sale mobile credit card transaction in Canada using the secure SIM card inside an NFC-enabled smartphone. This
historic first mobile transaction - enabled by Rogers' innovative
network platform -- has put Canada on the world stage as a global leader in mobile commerce. Rogers is the Canadian leader in driving the capabilities and adoption
of mobile commerce.

Cable further enhanced its NextBox 2.0 platform with the new Rogers Anyplace TV Home Edition application for tablets and smartphones. The new
application makes it possible to use advanced search, a virtual remote
control, live stream news, sports and entertainment, and remotely
manage and set PVR content, all on a tablet from a single app. Rogers
is the first Canadian telecommunications company to offer an integrated
remote personal video recorder ("PVR") management and live TV streaming
experience on tablets.

Media Boosts Growth Consistent with Sports and Local Content Focus

Media closed the acquisition of theScore Television Network and related television assets into a trust pending final approval from
the Canadian Radio-television Telecommunications Commission ("CRTC").
theScore is a national specialty TV service providing sports news,
information, highlights and live event programming, and is Canada's
third largest specialty TV sports channel with 6.6 million subscribers.
The acquisition builds on Rogers' rich history in sports broadcasting
and reinforces its commitment to delivering premium sports content to
its audiences on their platform of choice. Subject to final regulatory
approval, anticipated in the first half of fiscal 2013, the network
will be rebranded under the Sportsnet umbrella.

In December 2012, Media received approval from the CRTC to acquire CJNT-TV Montreal ("Metro14 Montreal"). The transaction closed in early February 2013 and the station was
re-launched as City Montreal in this key Quebec market. With the
acquisitions and agreements put in place during 2012, City's reach has
increased by more than 20% to over 80% of Canadian households.

The Toronto Blue Jays made several off-season all-star calibre player acquisitions and a series of other moves which provide the team with significantly
enhanced depth. The 2012 season demonstrated a renewed appetite for
baseball in the City of Toronto, which was apparent in the growth of
ticket and merchandise sales, as well as audience viewing. The growing
revenue enabled these additional investments which are consistent with
Rogers Media's sports-focused strategy to significantly improve game
attendance, merchandising and Sportsnet ratings.

Generated $296 million of consolidated pre-tax free cash flow in the
quarter, an increase of 2% compared to the fourth quarter of 2011, reflecting increased adjusted
operating profit, which was partially offset by an increased level of
PP&E expenditures. Pre-tax free cash flow per share increased by 6%
over the same period last year.

Entered intoanaccounts receivable securitization program, further supplementing our liquidity and sources of funding by up to
$900 million. The program was established in December 2012 and the
initial funding was received on January 14, 2013.

The overall cost of debt has declinedto 6.06% from 6.22% at December 31, 2011, and is expected to further decrease in
2013.

Cash Returned to Shareholders Set to Grow with Announcement of Further
Dividend Increase

In February 2013, the Board of Directors (the "Board") approved an
increase of 10% in the annualized dividend rate from $1.58 to $1.74 per Class A Voting and Class B Non-Voting share,
effective immediately, to be paid in quarterly amounts of $0.435. In
addition, it has approved a renewed share buyback program for the
repurchase of up to $500 million of RCI shares on the open market
during the next twelve months.

This summary of our fourth quarter 2012 earnings release should be read
in conjunction with our fourth quarter 2012 earnings release, our 2011
Annual MD&A and our 2011 Audited Annual Consolidated Financial
Statements and Notes thereto, as well as our 2012 quarterly interim
financial statements and our other recent filings with securities
regulatory authorities which are available on SEDAR at sedar.com or
EDGAR at sec.gov.

The financial information presented herein has been prepared on the
basis of IFRS for interim financial statements and is expressed in
Canadian dollars unless otherwise stated.

As this summary of our earnings release includes forward-looking
statements and assumptions, readers should carefully review the section
of this release entitled "Caution Regarding Forward-Looking Statements,
Risks and Assumptions".

In this summary of our earnings release, the terms "we", "us", "our",
"Rogers", "Rogers Communications" and "the Company" refer to Rogers
Communications Inc. and our subsidiaries: Wireless, Cable, Business
Solutions ("RBS") and Media.

SUMMARIZED CONSOLIDATED FINANCIAL RESULTS (Unaudited)

Three months ended December 31,

Twelve months ended December 31,

(In millions of dollars, except per share amounts)

2012

2011

% Chg

2012

2011

% Chg

Operating revenue

Wireless

$

1,920

$

1,826

5

$

7,280

$

7,138

2

Cable

852

838

2

3,358

3,309

1

RBS

88

93

(5)

351

405

(13)

Media

434

428

1

1,620

1,611

1

Corporate items and intercompany eliminations

(33)

(30)

10

(123)

(117)

5

Total operating revenue

3,261

3,155

3

12,486

12,346

1

Adjusted operating profit

Wireless

687

670

3

3,063

3,036

1

Cable

421

403

4

1,605

1,549

4

RBS

27

20

35

89

86

3

Media

75

44

70

190

180

6

Corporate items and intercompany eliminations

(34)

(36)

(6)

(113)

(112)

1

Adjusted operating profit

1,176

1,101

7

4,834

4,739

2

Depreciation and amortization

(453)

(454)

-

(1,819)

(1,743)

4

Finance costs excluding loss on repayment of long-term debt

(176)

(158)

11

(664)

(639)

4

Other income (expense), net

4

(6)

n/m

15

1

n/m

Share of the income of associates and joint ventures
excluding gain on spectrum distribution

4

3

33

2

7

(71)

Adjusted net income before income taxes

555

486

14

2,368

2,365

-

Adjusted income tax expense

(100)

(136)

(26)

(580)

(629)

(8)

Adjusted net income

$

455

$

350

30

$

1,788

$

1,736

3

Adjusted basic earnings per share

$

0.88

$

0.66

33

$

3.45

$

3.20

8

Adjusted diluted earnings per share

0.88

0.66

33

3.43

3.17

8

Adjusted operating profit

$

1,176

$

1,101

7

$

4,834

$

4,739

2

Stock-based compensation expense

(57)

(34)

68

(77)

(64)

20

Integration, restructuring and acquisition expenses

(10)

(20)

(50)

(92)

(56)

64

Operating profit

1,109

1,047

6

4,665

4,608

1

Depreciation and amortization

(453)

(454)

-

(1,819)

(1,743)

4

Impairment of assets

(80)

-

n/m

(80)

-

n/m

Operating income

576

593

(3)

2,766

2,865

(3)

Finance costs

(176)

(158)

11

(664)

(738)

(10)

Share of the income of associates and joint ventures

237

3

n/m

235

7

n/m

Income before income taxes

641

432

48

2,352

2,135

10

Income tax expense

(112)

(97)

15

(620)

(545)

14

Net income from continuing operations

529

335

58

1,732

1,590

9

Loss from discontinued operations

-

(8)

n/m

(32)

(27)

19

Net income

$

529

$

327

62

$

1,700

$

1,563

9

Basic earnings per share - continuing operations

$

1.03

$

0.63

63

$

3.34

$

2.93

14

Diluted earnings per share - continuing operations

1.02

0.63

62

3.32

2.91

14

Basic earnings per share

1.03

0.61

69

3.28

2.88

14

Diluted earnings per share

1.02

0.61

67

3.26

2.86

14

Total additions to PP&E

$

707

$

653

8

$

2,142

$

2,127

1

Pre-tax free cash flow

296

289

2

2,029

1,973

3

After-tax free cash flow

39

207

(81)

1,649

1,874

(12)

SEGMENT REVIEW

WIRELESS

Summarized Wireless Financial Results

Three months ended December 31,

Twelve months ended December 31,

(In millions of dollars, except margin)

2012

2011

% Chg

2012

2011

% Chg

Operating revenue

Network revenue

$

1,711

$

1,641

4

$

6,719

$

6,601

2

Equipment sales

209

185

13

561

537

4

Total operating revenue

1,920

1,826

5

7,280

7,138

2

Operating expenses

Cost of equipment

(558)

(465)

20

(1,585)

(1,425)

11

Other operating expenses

(675)

(691)

(2)

(2,632)

(2,677)

(2)

(1,233)

(1,156)

7

(4,217)

(4,102)

3

Adjusted operating profit

$

687

$

670

3

$

3,063

$

3,036

1

Adjusted operating profit margin as
% of network revenue

40.2%

40.8%

45.6%

46.0%

Additions to PP&E

$

386

$

347

11

$

1,123

$

1,192

(6)

Data revenue included in network revenue

$

727

$

600

21

$

2,722

$

2,325

17

Data revenue as a % of network revenue

42%

37%

41%

35%

Summarized Wireless Subscriber Results

(Subscriber statistics in thousands,

Three months ended December 31,

Twelve months ended December 31,

except ARPU and churn)

2012

2011

Chg

2012

2011

Chg

Postpaid

Gross additions

387

377

10

1,457

1,449

8

Net additions

58

42

16

268

269

(1)

Total postpaid subscribers

7,846

7,574

272

7,846

7,574

272

Monthly churn

1.40%

1.49%

(0.09) pts

1.29%

1.32%

(0.03) pts

Monthly average revenue per user ("ARPU")

$

69.75

$

68.63

$

1.12

$

69.30

$

70.26

$

(0.96)

Prepaid

Gross additions

131

191

(60)

627

845

(218)

Net additions (losses)

(53)

5

(58)

(170)

109

(279)

Total prepaid subscribers

1,591

1,761

(170)

1,591

1,761

(170)

Monthly churn

3.77%

3.51%

0.26 pts

3.98%

3.64%

0.34 pts

ARPU

$

15.83

$

16.85

$

(1.02)

$

15.84

$

16.02

$

(0.18)

Blended ARPU

$

60.48

$

58.82

$

1.66

$

59.79

$

60.20

$

(0.41)

Data ARPU

25.72

21.51

4.21

24.22

21.21

3.01

Voice ARPU

34.76

37.31

(2.55)

35.57

38.99

(3.42)

Wireless Subscribers and Network Revenue

For the three months ended December 31, 2012, Wireless activated and
upgraded approximately 940,000 smartphones, compared to approximately
791,000 in the fourth quarter of 2011. This is the highest number of
smartphone activations and upgrades in any quarter in Rogers' history.
The smartphones activated and upgraded during the quarter were
predominantly iPhone, Android, Windows Mobile and BlackBerry devices,
of which approximately 29% were for subscribers new to Wireless. The
overall addition of smartphones increased the percentage of subscribers
with smartphones to 69% of Wireless' total postpaid subscriber base at
December 31, 2012, compared to 56% as at December 31, 2011. These
subscribers generally commit to multi-year term contracts and typically
generate significantly higher ARPU.

The increase in wireless network revenue for the three months ended
December 31, 2012, compared to the corresponding period of 2011,
reflects the continued growth of Wireless' postpaid subscriber base and
the increased adoption and usage of wireless data services. In keeping
with our strategy, Wireless launched new simplified data-centric price
plans this quarter, which will improve the customer experience and the
efficiency of our sales and service functions. Wireless has driven
year-over-year reductions in postpaid churn in each of the last three
consecutive quarters through our continued focus on customer retention
and our strategies to strengthen customer experience.

For the three months ended December 31, 2012, wireless data revenue
increased to $727 million, a 21% increase from the corresponding period
of 2011. This growth in wireless data revenue reflects the continued
penetration and growing usage of smartphones, tablet devices and
wireless laptops, which drive increased usage of e-mail, wireless
Internet access, text messaging, data roaming, and other wireless data
services. For the three months ended December 31, 2012, wireless data
revenue represented approximately 42% of total network revenue,
compared to approximately 37% in the corresponding period of 2011.

The 2.8% year-over-year increase in blended ARPU for the quarter ended
December 31, 2012, compared to the corresponding period of 2011,
primarily reflects the growth in wireless data revenue, partially
offset by another quarter of sequentially moderating declines in
wireless voice revenues. The wireless data component of blended ARPU
increased by 19.6%, partially offset by a 6.8% decline in the wireless
voice component as a result of the heightened level of competitive
intensity in the wireless voice service market.

Wireless Equipment Sales

The increase in revenue from equipment sales for the three months ended
December 31, 2012, compared to the corresponding period of 2011,
primarily reflects the increase in hardware upgrades by existing
subscribers, combined with an increase in the mix of smartphones
activated towards higher value devices versus the prior year.

Wireless Operating Expenses

The increase in cost of equipment for the three months ended December
31, 2012, compared to the corresponding period of 2011, was primarily
the result of the increased number of smartphone sales to new customers
and upgrades for existing customers. During the three months ended
December 31, 2012, we activated and upgraded 33% more iPhones and 19%
more smartphones overall than in the same period last year.

Total retention spending, including subsidies on handset upgrades, was
$320 million in the three months ended December 31, 2012, compared to
$251million in the corresponding period of 2011. The increase primarily
reflects a higher number of hardware upgrades by existing subscribers
than during the same period last year combined with a shift in the mix
of smartphones activated towards higher value devices.

The year-over-year decrease in other operating expenses for the three
months ended December 31, 2012, excluding retention spending discussed
above, was driven by efficiency gains resulting from cost management
and productivity initiatives across various functions. Rogers continues
to focus on implementing a program of cost reduction and efficiency
improvement initiatives to manage the overall level of operating
expenses.

Wireless Adjusted Operating Profit

The 3% year-over-year increase in adjusted operating profit and the
40.2% adjusted operating profit margin on network revenue (which
excludes equipment sales revenue) for the three months ended December
31, 2012 primarily reflects the growth of network revenue in the
period, coupled with cost management and efficiency improvements as
discussed above.

CABLE

Summarized Financial Results

Three months ended December 31,

Twelve months ended December 31,

(In millions of dollars, except margin)

2012

2011

% Chg

2012

2011

% Chg

Operating revenue

Cable Television

$

462

$

473

(2)

$

1,868

$

1,878

(1)

Internet

263

238

11

998

926

8

Home Phone

122

118

3

477

478

-

Service revenue

847

829

2

3,343

3,282

2

Equipment sales

5

9

(44)

15

27

(44)

Total Cable operating revenue

852

838

2

3,358

3,309

1

Operating expenses

Cost of equipment

(6)

(10)

(40)

(20)

(29)

(31)

Other operating expenses

(425)

(425)

-

(1,733)

(1,731)

-

(431)

(435)

(1)

(1,753)

(1,760)

-

Adjusted operating profit

$

421

$

403

4

$

1,605

$

1,549

4

Adjusted operating profit margin

49.4%

48.1%

47.8%

46.8%

Additions to PP&E

$

259

$

231

12

$

832

$

748

11

Summarized Subscriber Results

Three months ended December 31,

Twelve months ended December 31,

(Subscriber statistics in thousands)

2012

2011

Chg

2012

2011

Chg

Cable homes passed

3,810

3,754

56

3,810

3,754

56

Television

Net losses

(25)

(6)

(19)

(83)

(14)

(69)

Total television subscribers

2,214

2,297

(83)

2,214

2,297

(83)

Digital cable

Households, net additions (losses)

(6)

10

(16)

(7)

39

(46)

Total digital cable households

1,768

1,777

(9)

1,768

1,777

(9)

Cable high-speed Internet

Net additions

22

25

(3)

73

83

(10)

Total cable high-speed Internet subscribers

1,864

1,793

71

1,864

1,793

71

Cable telephony lines

Net additions and migrations

10

8

2

23

45

(22)

Total cable telephony lines

1,074

1,052

22

1,074

1,052

22

Total cable service units

Net additions

7

27

(20)

13

114

(101)

Total cable service units

5,152

5,142

10

5,152

5,142

10

Cable Television Revenue

Cable Television revenue decreased for the three months ended December
31, 2012, compared to the corresponding period of 2011, mainly from the
4% year-over-year decline in basic television customers combined with
the impact of promotional and retention pricing activity associated
with heightened IPTV competitive activity, partially offset by pricing
changes made in March 2012.

Our digital cable subscriber base represents 80% of our total television
subscriber base as at December 31, 2012, compared to 77% as at December
31, 2011. A larger selection of digital content, video on-demand, HDTV
and PVR equipment continues to contribute to the increasing penetration
of the digital subscriber base as a percentage of our total television
subscriber base.

In the first quarter of 2012, Cable began an initiative to convert many
of the remaining analog cable customer outlets onto its digital cable
platform. This migration, which will continue during 2013, will enable
the reclamation of significant amounts of network capacity and reduce
network operating and maintenance costs going forward. The migration
entails incremental PP&E and operating costs as each of the remaining
analog homes are fitted with digital converters and various analog
filtering equipment is removed.

Internet Revenue

The year-over-year increase in Internet revenue for the three months
ended December 31, 2012 reflects the increase in our Internet
subscriber base, combined with a general movement to higher end speed
and usage tiers combined with Internet service pricing changes made
during the previous twelve months.

With our high-speed Internet customer base at 1.9million subscribers, Internet penetration is approximately 49% of the
homes passed by our cable network and 84% of our television subscriber
base as at December 31, 2012, compared to Internet penetration of
approximately 48% of the homes passed by our cable network and 78% of
our television subscriber base as at December 31, 2011.

Cable Internet and Home Phone subscribers and revenue include an
increasing number of small business customers, which generally have
fewer than 24 phone lines, that Cable has attached to its network in
addition to the residences traditionally passed by Cable's network.

Home Phone Revenue

The increase in Home Phone revenues for the three months ended December
31, 2012, compared to the corresponding period of 2011, reflects the
increase in the customer base.

Home Phone lines in service grew 2% from December 31, 2011 to December
31, 2012 and now represent 28% of the homes passed by our cable network
and 49% of television subscribers, compared to 28% of the homes passed
by our cable network and 46% of television subscribers at December 31,
2011.

Cable Operating Expenses

Cable's operating expenses remained flat for the three months ended
December 31, 2012, compared to the corresponding period of 2011, due to
cost reductions and efficiency initiatives across various functions and
lower new subscriber additions, partially offset by incremental
retention costs and costs associated with the analog to digital
conversion discussed above. Cable continues to focus on implementing a
program of cost reduction and efficiency improvement initiatives to
manage the overall level of operating expenses.

Cable Adjusted Operating Profit

The year-over-year increase in adjusted operating profit for the three
months ended December 31, 2012, compared to the corresponding period of
2011, was driven by the revenue increases resulting in expanded
adjusted operating profit margin of 49.4% for the three months ended
December 31, 2012, compared to 48.1% in the corresponding period of
2011.

ROGERS BUSINESS SOLUTIONS

Summarized Financial Results

Three months ended December 31,

Twelve months ended December 31,

(In millions of dollars, except margin)

2012

2011

% Chg

2012

2011

% Chg

Operating revenue

Next generation

$

43

$

34

26

$

162

$

128

27

Legacy

43

57

(25)

183

271

(32)

Service revenue

86

91

(5)

345

399

(14)

Equipment sales

2

2

-

6

6

-

Total RBS operating revenue

88

93

(5)

351

405

(13)

Operating expenses

(61)

(73)

(16)

(262)

(319)

(18)

Adjusted operating profit

$

27

$

20

35

$

89

$

86

3

Adjusted operating profit margin

30.7%

21.5%

25.4%

21.2%

Additions to PP&E

$

16

$

13

23

$

61

$

55

11

RBS Revenue

The decrease in RBS revenue for the three months ended December 31,
2012, compared to the corresponding period of 2011, primarily reflects
the planned decline in certain categories of our lower margin and
primarily off-net legacy business, offset by the growth in our next
generation IP and other on-net services business. RBS' focus is
primarily on IP-based services and increasingly on leveraging higher
margin on-net and near-net revenue opportunities, utilizing existing
network facilities to expand offerings to the medium-sized enterprise,
public sector and carrier markets. Revenue from the declining lower
margin off-net legacy business generally includes long-distance, local
and certain legacy data services. In contrast, revenue from the higher
margin next generation business continues to grow, due to growth in
customers and additional services sold to existing customers, and now
represents 50% of total RBS service revenue.

RBS Operating Expenses

Operating expenses decreased for the three months ended December 31,
2012, compared to the corresponding period in 2011. This reflects a
planned decrease in the legacy service-related costs due to lower
volumes and customer levels, as well as ongoing initiatives to improve
costs and productivity. RBS has continued to focus on implementing a
program of permanent cost reduction and efficiency improvement
initiatives to control the overall growth in operating expenses.

RBS Adjusted Operating Profit

The year-over-year increase in adjusted operating profit for the three
months ended December 31, 2012, compared to the corresponding period in
2011, reflects cost efficiencies which more than offset the declines in
revenue, and resulted in the increase of RBS' adjusted operating profit
margin to 30.7% from 21.5%. Margin increases also reflect the
increasing share of the RBS business derived from higher margin next
generation services, which is consistent with RBS' strategy.

MEDIA

Summarized Media Financial Results

Three months ended December 31,

Twelve months ended December 31,

(In millions of dollars, except margin)

2012

2011

% Chg

2012

2011

% Chg

Operating revenue

$

434

$

428

1

$

1,620

$

1,611

1

Operating expenses

(359)

(384)

(7)

(1,430)

(1,431)

-

Adjusted operating profit

$

75

$

44

70

$

190

$

180

6

Adjusted operating profit margin

17.3%

10.3%

11.7%

11.2%

Additions to PP&E

$

23

$

31

(26)

$

55

$

61

(10)

Media Revenue

Media revenue has increased 1% for the three months ended December 31,
2012 from the corresponding period of 2011, primarily driven by revenue
growth on our Sports properties. Subscription revenue increased by 17%,
due to the strength of the Sportsnet franchise and overall distribution
growth on our other specialty channels. In addition, revenue in Sports
Entertainment grew 44% as a result of increased revenue related to the
baseball franchise and successful events at the Rogers Centre. These
increases were partially offset by a continued soft advertising market
across most industry sectors in the face of economic softness that
created ongoing volatility in advertising revenue. The softness in the
advertising market was intensified in this quarter by the advertising
declines associated with the recently concluded NHL player lockout.
Excluding the impact of the NHL player lockout, total Media revenues
would have grown at a faster rate than 1% as reported.

Media Operating Expenses

The decrease in Media's operating expenses for the three months ended
December 31, 2012, compared to the corresponding period of 2011, is
primarily due to cost containment efforts and lower sports programming
costs associated with the NHL player lockout as no NHL games were
produced or aired in 2012 relating to the 2012-2013 season.

Media Adjusted Operating Profit

The increase in Media's adjusted operating profit for the three months
ended December 31, 2012, compared to the corresponding period of 2011,
primarily reflects the revenue and expense changes discussed above,
including an estimated $30 million net positive impact from the NHL
player lockout.

Other Media Developments

In October 2012, Media completed the purchase of 100% of the outstanding
shares of Score Media Inc. for $167 million. The shares of Score Media
were transferred to an interim CRTC-approved trust which is responsible
for the independent management of the business in the normal course of
operations until CRTC final approval is obtained, at which point
control over the Score Media business will transfer to Rogers. Score
Media owns theScore Television Network, a national specialty TV service
providing sports news, information, highlights and live event
programming across Canada. Upon final regulatory approval, which is
anticipated in the first half of 2013, Rogers will wholly own and
control theScore Television Network and its related television assets
and expects to rebrand the service under the Sportsnet brand.

In December 2012, Media received approval from the CRTC to acquire
Metro14 Montreal. The transaction closed in early February 2013 and the
station was re-launched as City Montreal in this key Quebec market.
With the acquisitions and agreements put in place during 2012, City's
reach has increased by more than 20% to over 80% of Canadian
households.

The Toronto Blue Jays made several off-season all-star calibre player
acquisitions and a series of other moves which provide the team with
significantly enhanced depth. The 2012 season demonstrated a renewed
appetite for baseball in the City of Toronto, which was apparent in the
growth of ticket and merchandise sales, as well as audience viewing.
The growing revenue enables these additional investments which are
consistent with Rogers Media's sports-focused strategy to significantly
improve game attendance, merchandising and Sportsnet ratings.

ADDITIONS TO PP&E

The additions to PP&E for the three and twelve months ended December 31,
2012 are described below:

Three months ended December 31,

Twelve months ended December 31,

(In millions of dollars)

2012

2011

% Chg

2012

2011

% Chg

Additions to PP&E

Wireless

$

386

$

347

11

$

1,123

$

1,192

(6)

Cable

259

231

12

832

748

11

RBS

16

13

23

61

55

11

Media

23

31

(26)

55

61

(10)

Corporate

23

31

(26)

71

71

-

Total additions to PP&E

$

707

$

653

8

$

2,142

$

2,127

1

Wireless Additions to PP&E

Wireless additions to PP&E increased by $39 million for the three months
ended Decmeber 31, 2012 compared to the corresponding period in 2011.
This was attributable to the continued deployment of our LTE network,
upgrades to the network to improve the LTE and HSPA+ user experience
and initiatives to improve network reliability and service platforms.

Cable Additions to PP&E

Cable additions to PP&E increased by $28 million for the three months
ended December 31, 2012 compared to the corresponding period in 2011.
This was driven by continued investments in the cable network to
enhance the customer experience through increased speed and performance
of our Internet service and capacity enhancements to our digital
network to allow for incremental HD and on-demand services to be added.
Higher analog to digital subscriber migration activity and investments
in customer premise equipment due to the continued roll out of Next Box
2.0 set-top boxes also contributed to the increase in additions to
PP&E.

RBS Additions to PP&E

The increase in RBS PP&E additions for the three months ended December
31, 2012, compared to the corresponding period of 2011, resulted from
the timing of expenditures on customer specific network expansions and
support capital.

Media Additions to PP&E

Media's PP&E additions during the three months ended December 31, 2012
reflect expenditures on digital and broadcast systems, as well as
planned upgrades for Sports Entertainment facilities.

2013 FINANCIAL TARGETS

The following table outlines guidance ranges and assumptions for
selected full year 2013 financial metrics. This information is
forward-looking and should be read in conjunction with the section
"Caution Regarding Forward-Looking Statements, Risks and Assumptions"
and the related disclosures, for the various economic, competitive, and
regulatory assumptions and factors that could cause actual future
financial and operating results to differ from those currently
expected.

Pre-tax free cash flow is defined as adjusted operating profit less PP&E
expenditures and interest
on long-term debt (net of capitalization), and is not a defined term
under IFRS.

(4)

This supplemental detail does not represent part of our formal 2013
guidance and is provided for
informative purposes only. Any update over the course of 2013 would only
be made to the consolidated
level guidance ranges provided above.

In the next few weeks, we intend to file with securities regulators in
Canada and the U.S. our Audited Annual Consolidated Financial
Statements and Notes thereto for the year ended December 31, 2012 and
MD&A in respect of such annual financial statements. Notification of
such filings will be made by a press release and such statements will
be made available on the rogers.com/investors, sedar.com and sec.gov
websites or upon request.

Caution Regarding Forward-Looking Statements, Risks and Assumptions

This summary of our earnings release includes "forward-looking
information" within the meaning of applicable securities laws and
assumptions concerning, among other things our business, its operations
and its financial performance and condition approved by management on
the date of this earnings release. This forward-looking information and
these assumptions include, but are not limited to, statements with
respect to our objectives and strategies to achieve those objectives,
as well as statements with respect to our beliefs, plans, expectations,
anticipations, estimates or intentions. This forward-looking
information also includes, but is not limited to, guidance and
forecasts relating to revenue, adjusted operating profit, property
plant and equipment expenditures, cash income tax payments, free cash
flow, dividend payments, expected growth in subscribers and the
services to which they subscribe, the cost of acquiring subscribers and
the deployment of new services, and all other statements that are not
historical facts. The words "could", "expect", "may", "anticipate",
"assume", "believe", "intend", "estimate", "plan", "project",
"guidance", and similar expressions are intended to identify statements
containing forward-looking information, although not all
forward-looking statements include such words. Conclusions, forecasts
and projections set out in forward-looking information are based on our
current objectives and strategies and on estimates and other factors
and expectations and assumptions, most of which are confidential and
proprietary, that we believe to be reasonable at the time applied, but
may prove to be incorrect, including, but not limited to: general
economic and industry growth rates, currency exchange rates, product
pricing levels and competitive intensity, subscriber growth, usage and
churn rates, changes in government regulation, technology deployment,
device availability, the timing of new product launches, content and
equipment costs, the integration of acquisitions, industry structure
and stability.

Except as otherwise indicated, this earnings release and our
forward-looking statements do not reflect the potential impact of any
non-recurring or other special items or of any dispositions,
monetizations, mergers, acquisitions, other business combinations or
other transactions that may be considered or announced or may occur
after the date the statement containing the forward-looking information
is made.

We caution that all forward-looking information, including any statement
regarding our current objectives, strategies and intentions and any
factor, assumptions, estimate or expectation underlying the
forward-looking information, is inherently subject to change and
uncertainty and that actual results may differ materially from those
expressed or implied by the forward-looking information. A number of
risks, uncertainties and other factors could cause actual results and
events to differ materially from those expressed or implied in the
forward-looking information or could cause our current objectives,
strategies and intentions to change, including but not limited to: new
interpretations and new accounting standards from accounting standards
bodies, economic conditions, technological change, the integration of
acquisitions, unanticipated changes in content or equipment costs,
changing conditions in the entertainment, information and
communications industries, regulatory changes, litigation and tax
matters, the level of competitive intensity and the emergence of new
opportunities.

Many of these factors are beyond our control and current expectation or
knowledge. Should one or more of these risks, uncertainties or other
factors materialize, our objectives, strategies or intentions change,
or any other factors or assumptions underlying the forward-looking
information prove incorrect, our actual results and our plans could
vary significantly from what we currently foresee. Accordingly, we warn
investors to exercise caution when considering statements containing
forward-looking information and that it would be unreasonable to rely
on such statements as creating legal rights regarding our future
results or plans. We are under no obligation (and we expressly disclaim
any such obligation) to update or alter any statements containing
forward-looking information or the factors or assumptions underlying
them, whether as a result of new information, future events or
otherwise, except as required by law. All of the forward-looking
information in this earnings release is qualified by the cautionary
statements herein.

Before making any investment decisions and for a detailed discussion of
the risks, uncertainties and environment associated with our business,
fully review the "Government Regulation and Regulatory Developments"
section of our 2011 Annual MD&A, including the section "Risks and
Uncertainties Affecting Our Businesses". Our annual and quarterly
reports can be found online at rogers.com/investors, sedar.com and
sec.gov or are available directly from Rogers.

About Rogers Communications Inc.

Rogers Communications is a diversified public Canadian communications
and media company. We are Canada's largest provider of wireless
communications services and one of Canada's leading providers of cable
television, high-speed Internet and telephony services. Through Rogers
Media, we are engaged in radio and television broadcasting, televised
shopping, magazines and trade publications, sports entertainment, and
digital media. We are publicly traded on the Toronto Stock Exchange
(TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI).
For further information about the Rogers group of companies, please
visit rogers.com.

Quarterly Investment Community Conference Call

As previously announced by press release, a live webcast of our
quarterly results teleconference with the investment community will be
broadcast via the Internet at rogers.com/webcast beginning at 8:30 a.m.
ET today, February 15, 2013. A rebroadcast of this teleconference will
be available on the Events and Presentations page of Rogers' Investor
Relations website, rogers.com/investors, for a period of at least two
weeks following the teleconference.